Welco Realty, Inc. represented the landlord, Prestige Properties & Development Co, Inc. to bring Apple to their first location in the Bronx, New York at The Mall at Bay Plaza. James O’Brien of Welco Realty, Inc. was the Agent who negotiated the deal. James was formerly with Simon Property Group for 35 years as Vice President of leasing NE. He has been with Welco Realty for the last 9 years.
Apple is opening Friday, September 24, 2021. The store is 10,391 s.f. Jerry Welkis, President of Welco Realty, and Exclusive Agent for The Mall at Bay Plaza and Bay Plaza Shopping Center said, “We were thrilled that we were finally able to sign a lease with Apple to bring them into the mall and to service the Bronx population as well as the southern Westchester county.”
Apple is coming to the Bronx and has chosen such a convenient location at the Mall at Bay Plaza. Apple users in the Bronx now no longer need to travel outside of the borough for the latest iPhone.
The Mall at Bay Plaza & Bay Plaza Shopping Center
The Bay Plaza development is one of the largest retail developments in the city of New York with over 2 million s.f. of retail, entertainment, and office. The Mall at Bay Plaza was the most recent retail addition to the overall Bay Plaza development.
The enclosed mall opened on August 14, 2014. It was the first enclosed regional mall to be open in NYC in over 40 years anchored by JCPenney and Macy’s. The mall had a very successful opening with amazing sales, and in the past 7 years sales have continued to grow from year to year.
The Mall at Bay Plaza is conveniently located at the intersection of New England Thruway and Hutchinson River Parkway in the Bronx, on the border of Westchester County. Apple joins many other major retail chains that are part of the Mall at Bay Plaza Shopping Center to include a who’s who list of tenants such as H & M, Forever21, Victoria’s Secret, American Eagle, Aeropostale, Bath & Body Works, Gap, Old Navy, Billy Beez, Pandora, Foot Locker, Uniqlo, XSport Fitness among many other fine retailers. There is also a major food court in the Mall at Bay Plaza.
The power center adjacent to the mall (Bay Plaza) has such notable retailers as AMC, Marshall’s, P C Richards, DSW, Stop & Shop, Ashley Furniture, Burlington, Bob’s Furniture, Raymour & Flanigan, and Sephora to name a few.
Real Estate Publications:
The Real Deal: https://therealdeal.com/2021/09/21/apple-to-open-first-bronx-store-11-location-in-new-york/
Real Estate Weekly: https://rew-online.com/apple-set-to-open-first-store-in-the-bronx/
Commercial Observer: https://commercialobserver.com/2021/09/apple-opening-mall-at-bay-plaza/
Apple Insider: https://appleinsider.com/articles/21/09/23/apple-to-open-first-bronx-store-on-september-24
Bronx Times: https://www.bxtimes.com/70381-2/
6SQFT: https://www.6sqft.com/apples-first-store-in-the-bronx-is-now-open/
New Rochelle, New York – February 8, 2021 – Officials held a ribbon-cutting ceremony Wednesday, Fedruary 3rd for At Home, Clarkstown’s newest addition. Welco was the Exclusive Broker who represented At Home at the new Nanuet, Rockland County, New York location taking over the ground floor space of approximately 100,000 s.f. of the former Macy’s. This space had been vacant since Macy’s departure in 2018. Welco represents At Home in the Metro NY area.
At Home specializes in seasonal and year-round home décor products. At Home is headquartered in Plano, Texas and currently operates approximately 219 stores in 40 states. www.athome.com
About our Company
Welco Realty, Inc. was established over 30 years ago and has become one of the Premier Retail Real Estate Experts in the Northeast. Welco specializes in retail tenant representation, shopping center, mall, and CBD retail leasing primarily focused in the metropolitan New York, New Jersey, Connecticut & Pennsylvania markets. Welco Realty works closely with its retail clients to help develop their store expansion strategy to include market analysis, site selection, demographics, competition evaluation and lease negotiations to successfully conclude all transactions. Welco works with their developer clients from ground-up construction to leasing vacancies in existing centers. Welco has an aggressive marketing approach to finding the right tenant for the right property. For more info check out our website: www.welcorealty.com
Reuters, October 28, 2020
(Reuters) – J.C. Penney Co Inc said on Wednesday it has entered an asset purchase agreement with Brookfield Asset Management Inc, Simon Property Group, and a majority of the company’s first-lien lenders.
The iconic 118-year-old retailer had filed for bankruptcy in a Texas court in May after the COVID-19 pandemic forced it to temporarily close its then nearly 850 stores.
The company said it expects to operate outside Chapter 11 before the holiday season.
Under the agreement, Brookfield and Simon, which are the retailer’s two biggest landlords, will buy substantially all of J.C. Penney’s retail and operating assets through a combination of cash and new term loan debt.
“Signing a definitive APA (asset purchase agreement) with Brookfield, Simon and our Majority First Lien Lenders allow us to move forward towards the completion of our financial restructuring,” J.C. Penney said in a statement.
Earlier this month, Bloomberg reported that talks between J.C. Penney’s lenders and the would-be buyers, Simon and Brookfield, had broken down after the lenders missed several deadlines.
Reporting by Aishwarya Nair; Editing by Amy Caren Daniel
- Guacamole’s Mexican Cuisine of Branford will be opening their second location at Connecticut Post Mall in the former Carrabba’s Italian Grill space.
- Connecticut Post Mall is located at 1201 Boston Post Rd, Milford, CT.
- Michael Boyarsky of Welco Realty secured a signed lease between Centennial & Guacamole’s Mexican Cuisine. Their lease was for 7,176 s.f. with an additional 1,871 s.f. of patio space. Michael represented the tenant in this transaction.
- Centennial RE Management represented the landlord (CT Post Mall).
- Guacamole’s is scheduled to open June 6, 2019.
By Joshua Burd – Real Estate NJ
Click for link to re-nj.com article.
Click for link to rew-online article.
A landlord has inked a new 15,000-square-foot lease with Modell’s Sporting Goods in Marlboro, company executives announced Wednesday.
Basser Kaufman, a Woodmere, New York-based real estate investment and development firm, said the sporting goods chain has signed a 10-year commitment at Marlboro Plaza. It will be among the newest stores at the recently renovated, 303,503-square foot shopping center, which benefits from a location at the busy intersection of routes 9 and 520.
Jerry Welkis of Welco Realty and Bill Farkas of Jeffery Realty represented Modell’s, while Basser Kaufman represented itself.
“Modell’s will add a powerful retail component to our established and highly successful shopping center,” said Rob Goldfeder, director of leasing for Basser Kaufman. “It is a great fit for Marlboro Plaza and will enhance the fine restaurants, existing retail, and overall shopping experience.”
Recent renovations to the shopping center include a new façade, elaborate landscaping and an updated parking area, according to a news release. Modell’s will accompany existing major tenants including Hobby Lobby, TJ Maxx, Kohl’s, Staples and PetSmart.
Ozone Park, NY – March 7, 2019
MadRag has signed a lease for 10,400 s.f. space, the former Annie Sez space at 92-10 Rockaway Blvd.
618 Main Clothing Corp., doing business as 10 Spot/MadRag stores, owns and operates stores that offer women’s clothes and shoes. It offers runway sportswear, lingerie, and accessories. 618 Main Clothing Corp., is based in Secaucus, New Jersey. It has stores in Arkansas, Florida, Connecticut, Massachusetts, Maryland, New Jersey, New York, Pennsylvania, Rhode Island, and Tennessee.
MadRag has been in business for over 30 years and own and operate more than 60 stores in 10 states. http://www.madrag.com/
Jerry Welkis, President of Welco Realty, represented both the owner and the tenant in this transaction. Welkis has represented the landlord and tenant for many years and was glad to put both parties together at this location.
Al Polizzotto, Landlord, commented “He is thrilled to have a strong regional apparel retailer come in to replace the former Annie Sez premises to service the needs of the immediate community, which would include Ozone Park, Howard Beach & surrounding neighborhoods.”
“We are very excited to bring the MadRag brand to Ozone Park. MadRag is going to be a great addition to an already vibrant shopping area” said Nathan Hoffman, Principal of MadRag.
MadRag is scheduled to open in Ozone Park, New York April-May 2019.
Link to article in Mid Atlantic Real Estate Journal – 3.29.19 (p.8)
NANUET, NY— Metropolitan Realty Associates reports have signed a contract to acquire the 218,000-square-foot Macy’s store at The Shops at Nanuet here. At Home, a national chain of home décor superstores has signed a 10-year lease for the entire first floor of the retail store comprising 101,488 square feet. Jerry Welkis, a principal of Welco Realty, represented the tenant. MRA represented itself in the transaction.
At Home has been growing at a rapid pace since taking its operation public in 2016. Founded in Garden Ridge, TX, in 1979, the company now headquartered in Plano, TX, currently operates 177 stores in 36 states across the country.
The Shops at Nanuet retail tenancy now includes Fairway Market, Regal Cinemas, 24-Hour Fitness, and notable specialty retailers Apple, Coach, Lululemon, J. Crew, Michael Kors, Sephora, Starbucks, BJ’s Restaurant and Brewhouse, Zinburger Wine & Burger Bar and P.F. Chang’s. Sears recently announced it will shutter its store at The Shops at Nanuet.
Link to the entire article on GlobeSt.com
BOWLERO – LARGEST BOWLING OPERATOR RE-OPENS WALLINGFORD BOWL!
WALLINGFORD — A major operator of bowling centers NOW OPEN in the former Wallingford Bowl on Route 5.
Wallingford Bowl, 980 N. Colony Road, closed its doors on May 30. Wallingford Bowl was formerly “T-Bowl.” It is located near the Holiday Cinemas Stadium 14 theater and On Track.
Discover Wallingford Bowl and experience the area’s newest spin on fun – with backlight lanes, interactive games, and inventive menus that’ll make your taste buds go crazy.
Jerry Welkis, President of Welco Realty along with Michael Boyarsky also with Welco Realty represented the landlord, Kings Highway Realty, LLC as the sole broker in this transaction.
The opening of the NetCost Market at 3100 Ocean Avenue has been a cause for celebration in Sheepshead Bay this summer, offering hard-to-find imported goods and fresh produce for the residents of this densely-populated neighborhood.
The 35,000 s/f location, between Voorhies Avenue and Shore Parkway, also represents the fourth lease arranged for the chain by Jason Gerbsman, Managing Principal, HUDSON. But unlike the others, this one encompassed many long hours of complex negotiations, a buy-out from the previous tenant Gala Fresh Farms, which had acquired the lease at the A&P bankruptcy auction, and working with building ownership to secure a rare long-term lease.
“We knew how important this location would be for NetCost, so we carefully approached the new operator with the idea of selling us the market and the leasehold — and then we waited,” said Gerbsman. “Ultimately, we were successful and once we had possession, we worked closely with the building’s ownership to secure a new long-term lease, which enabled our client to spend what was necessary on a proper renovation for a cutting-edge, first-class international specialty store.”
Currently, NetCost has 11 other stores throughout New York City, New Jersey, and Philadelphia. Last year, Gerbsman arranged the lease for a 40,000-square-foot NetCost Market, currently under construction in the Neptune Sixth development in Coney Island, formerly Trump Village. He has also arranged leases for NetCost Market to Manalapan, NJ, and its gourmet sister-brand, Gourmanoff, to Paramus, NJ.
Gerbsman continued, “NetCost is an American success story. It’s a family-owned business specializing in goods geared to multi-cultural communities. We are thrilled to be a part of the company’s ongoing expansion.”
Asking rent for the 3100 Ocean Avenue lease was $25 psf. The owner, Norse Realty, was represented by Jerry Welkis of Welco Realty.
Bareburger continued its expansion with the recent opening of its fifth New Jersey location in Ridgewood, New Jersey. The 3,500 s.f. family-friendly restaurant features Bareburger’s array of organic, locally sourced burgers, sandwiches, and salads as well as a full bar serving a wide selection of beer, wine, and cocktails. In addition to their standard lunch and dinner service, this location also is open for breakfast featuring dishes such as omelets and pancakes as well as a specialty coffee bar. The location also features the company’s trademark storefront with roll-up garage doors as well as an outdoor seating area.
Also, Bareburger recently signed a 3,100 s.f. lease in Tices Corner, Woodcliff Lake, New Jersey which is scheduled to open later this year.
Bareburger now has 40 restaurants in the United States as well as locations in Canada, Germany, Japan, and Dubai.
Tod Heller of Welco Realty, Inc. exclusively represents Bareburger in New Jersey.